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REPORTABLE SEGMENTS (Tables) | 12 Months Ended
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Dec. 26, 2021
Segment Reporting [Abstract] |
Schedule of Net Sales, Operating Income, Depreciation and Amortization, Long-lived Assets and Capital Expenditures | Additional information regarding reportable segments is as follows:
| Year Ended
| December 26, 2021(a) |  | December 27, 2020(b) |  | December 29. 2019(c)
| (In thousands)
Net sales |  |  |  |  |
U.S. | $ | 9,113,879 |  |  | $ | 7,496,017 |  |  | $ | 7,636,716 |
U.K. and Europe | 3,934,062 |  |  | 3,274,292 |  |  | 2,383,793 |
Mexico | 1,729,517 |  |  | 1,321,592 |  |  | 1,388,710 |
Total | $ | 14,777,458 |  |  | $ | 12,091,901 |  |  | $ | 11,409,219 |
(a)For the year 2021, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $296.9 million. These sales consisted of fresh products, prepared products, eggs and grain. (b)For the year 2020, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $210.6 million. These sales consisted of fresh products, prepared products and grain. (c)For the year 2019, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $188.9 million. These sales consisted of fresh products, prepared products and grain.
| Year Ended
| December 26, 2021 |  | December 27, 2020 |  | December 29, 2019
| (In thousands)
Operating income |  |  |  |  |
U.S. | $ | (17,036) |  |  | $ | 69,377 |  |  | $ | 487,275 |
U.K. and Europe | (627) |  |  | 102,734 |  |  | 79,182 |
Mexico | 228,773 |  |  | 72,879 |  |  | 124,015 |
Eliminations | 54 |  |  | 473 |  |  | 96 |
Total operating income | 211,164 |  |  | 245,463 |  |  | 690,568 |
Interest expense, net of capitalized interest | 145,792 |  |  | 126,118 |  |  | 132,630 |
Interest income | (6,056) |  |  | (7,305) |  |  | (14,277) |
Foreign currency transaction (gains) losses | (9,382) |  |  | 760 |  |  | 6,917 |
Gain on bargain purchase | — |  |  | 3,746 |  |  | (56,880) |
Miscellaneous, net | (11,580) |  |  | (39,681) |  |  | 4,633 |
Income before income taxes | 92,390 |  |  | 161,825 |  |  | 617,545 |
Income tax expense | 61,122 |  |  | 66,755 |  |  | 161,009 |
Net income | $ | 31,268 |  |  | $ | 95,070 |  |  | $ | 456,536 |
| Year Ended
| December 26, 2021 |  | December 27, 2020 |  | December 29, 2019
| (In thousands)
Depreciation and amortization: |  |  |  |  |
U.S. | $ | 242,944 |  |  | $ | 218,244 |  |  | $ | 207,584 |
U.K. and Europe | 113,256 |  |  | 92,673 |  |  | 60,499 |
Mexico | 24,624 |  |  | 26,187 |  |  | 19,147 |
Total | $ | 380,824 |  |  | $ | 337,104 |  |  | $ | 287,230 |
| Year Ended
| December 26, 2021 |  | December 27, 2020 |  | December 29, 2019
| (In thousands)
Capital expenditures: |  |  |  |  |
U.S. | $ | 274,934 |  |  | $ | 264,149 |  |  | $ | 269,609 |
U.K. and Europe | 87,004 |  |  | 77,597 |  |  | 58,795 |
Mexico | 19,733 |  |  | 13,016 |  |  | 19,716 |
Total | $ | 381,671 |  |  | $ | 354,762 |  |  | $ | 348,120 |
| December 26, 2021 |  | December 27, 2020
| (In thousands)
Total assets: |  |  |
U.S. | $ | 6,390,845 |  |  | $ | 5,189,021 |
U.K. and Europe | 4,292,558 |  |  | 3,034,219 |
Mexico | 1,146,204 |  |  | 1,212,428 |
Eliminations | (2,916,402) |  |  | (1,961,171) |
Total | $ | 8,913,205 |  |  | $ | 7,474,497 |
| Year Ended
| December 26, 2021 |  | December 27, 2020 |  | December 29, 2019
| (In thousands)
Net sales to customers by customer location: |  |  |  |  |
U.S. | $ | 8,657,648 |  |  | $ | 7,190,808 |  |  | $ | 7,355,631 |
Europe | 3,878,475 |  |  | 3,225,717 |  |  | 2,363,017 |
Mexico | 1,778,355 |  |  | 1,350,588 |  |  | 1,437,081 |
Asia-Pacific | 317,685 |  |  | 252,574 |  |  | 175,898 |
Canada, Caribbean and Central America | 81,549 |  |  | 30,792 |  |  | 31,808 |
Africa | 47,948 |  |  | 25,321 |  |  | 28,400 |
South America | 15,798 |  |  | 16,101 |  |  | 17,384 |
Total | $ | 14,777,458 |  |  | $ | 12,091,901 |  |  | $ | 11,409,219 |
| December 26, 2021 |  | December 29, 2019
| (In thousands)
Long-lived assets(a): |  |  |
U.S. | $ | 1,862,584 |  |  | $ | 1,815,460 |
U.K. and Europe | 1,125,197 |  |  | 842,049 |
Mexico | 284,980 |  |  | 292,651 |
Eliminations | (3,729) |  |  | (3,783) |
Total | $ | 3,269,032 |  |  | $ | 2,946,377 |
(a)For this disclosure, we exclude financial instruments, deferred tax assets and intangible assets in accordance with ASC 280-10-50-41, Segment Reporting. Long-lived assets, as used in ASC 280-10-50-41, implies hard assets that cannot be readily removed.
Schedule of Sales by Product Lines | The following table sets forth net sales attributable to each of our primary product lines and markets served with those products. We based the table on our internal sales reports and their classification of products.
| Year Ended
| December 26, 2021 |  | December 27, 2020 |  | December 29, 2019
| (In thousands)
U.S. reportable segment: |  |  |  |  |
Fresh products | $ | 7,264,448 |  |  | $ | 6,137,265 |  |  | $ | 6,214,954 |
Prepared foods | 898,614 |  |  | 714,563 |  |  | 842,365 |
Exports | 459,371 |  |  | 306,478 |  |  | 282,791 |
Other Products | 491,446 |  |  | 337,711 |  |  | 296,606 |
Total U.S. reportable segment | 9,113,879 |  |  | 7,496,017 |  |  | 7,636,716 |
U.K. and Europe reportable segment: |  |  |  |  |
Fresh products | 1,151,330 |  |  | 1,594,373 |  |  | 1,054,837 |
Prepared foods | 2,214,180 |  |  | 1,237,486 |  |  | 951,718 |
Exports | 458,588 |  |  | 297,414 |  |  | 278,215 |
Other Products | 109,964 |  |  | 145,019 |  |  | 99,023 |
Total U.K. and Europe reportable segment | 3,934,062 |  |  | 3,274,292 |  |  | 2,383,793 |
Mexico reportable segment: |  |  |  |  |
Fresh products | 1,515,453 |  |  | 1,210,952 |  |  | 1,245,976 |
Prepared foods | 128,208 |  |  | 66,572 |  |  | 95,733 |
Other products | 85,856 |  |  | 44,068 |  |  | 47,001 |
Total Mexico reportable segment | 1,729,517 |  |  | 1,321,592 |  |  | 1,388,710 |
Total net sales | $ | 14,777,458 |  |  | $ | 12,091,901 |  |  | $ | 11,409,219 |

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